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US resumes strikes in Strait of Hormuz after Iran ceasefire ends

Brent and WTI rose more than 6% on the news, as the US moved to targets tied to Iranian oil sales and logistics.

Reported · Written up by our desk · Major Pairs

FXStreet reports that the US launched fresh strikes on Iranian infrastructure in and around the Strait of Hormuz only days after a ceasefire took hold. The strikes included cruise missiles hitting a rail line in Iran’s Golestan province, marking the first US strike on Iranian infrastructure since the ceasefire.

According to the report, Iran said multiple US artillery shells struck a railway bridge west of Aghala in Golestan, causing several explosions. The US Air Force also bombed two railway bridges on Wednesday, and President Donald Trump said Iranian officials have called and want to make a deal, while indicating he was uncertain they would honor one.

The report says the US has started a new series of strikes, hitting more than 80 targets in and around the Strait of Hormuz, after Trump said the Versailles accord patch is effectively over while keeping talks open. Tehran’s response described in the piece includes claims it hit three tankers transiting the strait between Monday and Tuesday and separate claims of attacks on US-linked facilities in Bahrain and Kuwait.

FXStreet adds that markets reacted immediately, with Brent up 6.3% and WTI up 6.4% in response. It also notes gold traded almost 1% lower, citing hawkish Federal Reserve minutes and a firmer US dollar as partly offsetting the move tied to the renewed Middle East tensions.

Latest closeGold $4,134.80 ▲2.4%|WTI crude $84.41 ▲6.5%|Brent $90.40 ▲7.5%

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